Real Estate Agent · Odenton, MD · Member since 2019 · 10 posts · 8 votes
Hey guys! I am so excited! I have finished the required salesperson hours and passed the PSI exam on the FIRST try!!
I am now in search of a brokerage in MD. I will be starting out part-time until I can make a name for myself. I am looking for a brokerage with excellent training, mentoring program if possible, supportive of my part-time decision and to be part of a team. Commission is important of course but since I’m just starting off...Great training and support is what is most important to me at this time.
I am a newbie and I love advice! If you like to share any knowledge you have please do not hesitate.
A few questions I have:
Did you start off part-time? Are you now full-time?
What brokerage do you work for and why did you choose them?
Rental Property Investor · Detroit, MI · Member since 2014 · 15 posts · 18 votes
7y
@Lauren Billups congrats on passing your exam, Lauren! The beauty of brokerage is that it’s possible to begin building your business while working another job(s), but it requires discipline. Do you have a full time job already?
Choosing a brokerage with established training programs and a welcoming support structure is important.
However, I think the real way kick start your business is to find a mentor who you respect and is willing to train you. I would focus on finding someone in your target market who is busy and offer to help them out with showings, dealing with rentals, etc... Busy agents always need help. This is how I got moving fast and got comfortable dealing with clients. In my experience, after doing some favors for agents in my office, they threw me referrals for smaller deals they don’t have time to handle. It’s a win/win.
Rental Property Investor · Detroit, MI · Member since 2014 · 15 posts · 18 votes
7y
@Lauren Billups congrats on passing your exam, Lauren! The beauty of brokerage is that it’s possible to begin building your business while working another job(s), but it requires discipline. Do you have a full time job already?
Choosing a brokerage with established training programs and a welcoming support structure is important.
However, I think the real way kick start your business is to find a mentor who you respect and is willing to train you. I would focus on finding someone in your target market who is busy and offer to help them out with showings, dealing with rentals, etc... Busy agents always need help. This is how I got moving fast and got comfortable dealing with clients. In my experience, after doing some favors for agents in my office, they threw me referrals for smaller deals they don’t have time to handle. It’s a win/win.
Real Estate Agent · Odenton, MD · Member since 2019 · 10 posts · 8 votes
7y
@Alex Manwell thank you!! This is awesome advice! Yes I currently work for the federal government full time with a very flexible work from home schedule.
I will start searching for a mentor that is busy because you are correct...they always need help. I haven’t really thought about it that way. Thanks for putting me some things in perspective for me :)
Real Estate Agent · Cupertino, CA · Member since 2016 · 4k+ posts · 1k+ votes
7y
Suggest Keller Wms in your area. Most brokerages promise they will train and provide leads. 99% will not. KW-more newer agents where they network and work together. Great classroom training. Mentor program-not free. Split is decent. Suggest you keep your mouth sealed about PT as all brokers are interested in FT. High percentage of agents at end of first year have "0" closing so that license is as good as the paper will promise. Good luck.
Rental Property Investor · Detroit, MI · Member since 2014 · 15 posts · 18 votes
7y
@Lauren Billups do you own any properties already? If not, I’d suggest looking into that. A federal government paycheck will make any mortgage broker smile :P
I found that my personal experience buying, managing, renting, etc. my own portfolio has given me much more credibility when dealing with brokerage clients, especially as a newer agent. Many agents don’t even own their own home, let along invest in multi family. Build your knowledge base by getting your hands dirty :)
Real Estate Agent · Odenton, MD · Member since 2019 · 10 posts · 8 votes
7y
@Alex Manwell I do own my own property. The main reason of getting my license was solely for investing purposes. After having passing the class I now want to do both. But in order for my license to be active I need to be under a brokerage. I’m excited to build my portfolio!
Real Estate Investor · Washington, DC · Member since 2014 · 236 posts · 328 votes
7y
I think the best advice is to be patient and not get discouraged. It takes time to build up a clientele. My brother owns a real estate brokerage in Florida with several offices and many new agents give up and quit because they feel like they can't get clients. Other agents who aren't any better just keep at it and get a few clients, then a few more and eventually do really well.
If you are using it to invest yourself, that's great. Most agents just target their family/friends who are looking to buy a home. If you deal with investors, then each client won't be giving you one commission every 5 or 6 years like a homebuyer, they'll give you several commission's per year.
Real Estate Agent · Hoffman Estates, IL · Member since 2017 · 90 posts · 68 votes
7y
Drive around neighborhoods you want to sell in (Look online aswell). Find out who sells the most and see if you can interview with them. It is mutually beneficial relationship.
Talk to other agents there and find out what they think.
When you start, training, mentorship and oppurtunity are the biggest things you are looking for. You can always transfer to other firms once you stand up on your feet.